Iconix to buy Rocawear
08/03/2007
US-based owner, licensor and marketer Iconix Brand Group, Inc. has entered into a definitive agreement to purchase lifestyle apparel brand Rocawear. The purchase price will be $204 million in cash with contingent payments of an additional $35 million of Iconix stock, based upon the brand surpassing certain performance thresholds.
With annual sales of over $700 million, Rocawear’s co-founder musician Jay-Z will remain in charge of all product development, marketing and licensing.
The acquisition is anticipated to close in March and is subject to customary closing conditions.
Share this story:
